A proposal from Novak Construction to redevelop the former Portage Park Sears location into a mixed-use complex won the approval of the Chicago Plan Commission. The $90 million project is located at 4730 W. Irving Park Road in the Six Corners Shopping District and would re-use the Sears structure which has been vacant since July of 2018.
According to Block Club Chicago, Novak Construction bought the building and plans to redevelop it into a six-story mixed-use development with 207 luxury apartments. This is a change from the 209 in previous plans. The units would sit on top of 50,000 square feet of ground-floor retail with one anchor tenant plus other tenants.
The development would include the following:
- Studio apartments
- One-bedroom apartments
- Two-bedroom apartments
- Range from $2,750 to $3,000 per month
- Retail on ground floor
- Pool
- Dog walk
- Communal areas
- 270 parking spaces
- 68 bike spaces
The developers submitted a zoning change last month that would allow for residential units. A vote on that change will take place next month.
According to the developer, six of the apartments would be earmarked as affordable and the application has been filed with the city. The developer would meet the rest of its affordability requirement by paying about $2 million into the city's Affordable Housing Opportunity Fund.
Despite concerns from residents about a lack of affordable housing, commissioners did approve the project. Members of the commission did acknowledge that more affordable units are needed for large developments such as the Sears redevelopment, but voted their approval anyway.
The new Affordable Requirements Ordinance which passed earlier this year stipulated an increase in the percentage of affordable units that must be offered in major developments from 10 to 20 percent and even up to 30 percent in some neighborhoods. Unfortunately, the new project was submitted before that ordinance went into effect.
Plan Commission members promised to work harder to hold developers accountable for more affordable housing units once October hits but commended Novak for revitalizing the long-vacant art deco building that was built in 1938.
"We hope that this will successfully set the tone for parcels that are yet to be developed around it. This is the first of many parcels to be developed. Once this happens, we can push for further integration of affordable housing. The new ordinance will have incentive to have more affordable housing. The developers, Alderman Jim Gardiner and DPD have been working well on the project."
Commissioner for the Dept. of Planning & Development | Maurice D. Cox
Urbanize Chicago stated that the existing building would be reclad with new patterns and window openings to evoke art deco architecture, and the "lantern" window on the corner would be rebuilt. The combined structures would be topped by a sixth floor glass-enclosed amenity level which would include a pool.
Block Club Chicago reported that Alderman Gardiner had said the development will create economic and residential growth in an area that has struggled in recent years with stalled developments, vacant land and empty storefronts. He stated that this development is vital for the Six Corners housing and retail for the community.
Since 2018, the old Six Corners Sears Building has sat vacant and neighbors and business owners have been waiting for something to open on this prime corner.
The development now needs zoning approval and then full City Council approval. If everything goes through, construction could begin in March and last for 18 months.
